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DEL MONTE ?PRODUCE SOLD TO GRUPO EMPRESARIAL AGRICOLA MEXICANO S.A.

DEL MONTE ?PRODUCE SOLD TO GRUPO EMPRESARIAL AGRICOLA MEXICANO S.A.
 MEXICO CITY, Mexico, Nov. 5 /PRNewswire/ -- Del Monte Fresh Produce is pleased to announce the completion of its sale by PPI Holdings to a subsidiary of Grupo Empresarial Agricola Mexicano S.A., headquartered in Mexico City. Carlos Cabal Peniche was named chairman of the Del Monte Fresh Produce board. Brian Haycox remains the chief executive officer.
 Del Monte Fresh Produce, owner of all Del Monte fresh fruit and vegetable operations, employs over 14,000 people in the worldwide production, transportation and marketing of fresh produce. The company is currently one of the two leading marketers of fresh pineapples in the world, the third largest marketer of bananas and a leading international supplier of melons, papayas, mangos and other tropical fruit. Product is sourced from company owned farms and independent producers in Central and South America, Hawaii, the Philippines and Africa. Del Monte brand produce is sold in all major markets around the world.
 Increased capital investment upon completion of this sale will allow the company to expand its fresh produce lines to take advantage of the company'sl?obal sourcing, distribution and marketing strengths. Leaving PPI behind in association and name, Del Monte Fresh Produce management looks forward to many competitive opportunities offered by the fine Mexican producers who have supported this transaction.
 -0- 11/5/92
 /CONTACT: Harold Schenker, executive vice president of Del Monte Fresh Produce Company, 305-520-8080/ CO: Del Monte Fresh Produce Company; Grupo Empresarial Agricola
 Mexicano S.A. ST: Florida IN: FOD SU: TNM


AW-RC -- FL015 -- 7994 11/05/92 18:22 EST
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Publication:PR Newswire
Date:Nov 5, 1992
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